NSE listing on Exchange will boost economy, Expert  says 



The authorisation  for  the Nigeria Stock Exchange (NSE)  to  list  at the Exchange will  deepen the market and boost the economy, Mr Boniface Okezie, a Capital Market Operator, says.

Okezie , is the President of the Progressive Shareholders Association of Nigeria, made the assertion in an interview with the News Agency of Nigeria  in Lagos on Friday.

According to him, for the NSE to go public is quite profound because will begin to have the features of a company.

“ The company will now have majority and minority share holders does have stakes in the organisation.

“Scheduled meetings be held, where the firm’s performance will be scrutinised publicly, either on yearly or quarterly basis,” he said.

He noted the listing of the NSE shares was a  good initiative because would foster  .

“ The economy will get a boost as the company becomes more profit driven, and government will make money taxes.

“ The firm be engaged in more  corporate social responsibility, as its own contribution to the growth of the society,” he said.

He said though the idea was novel to our environment, is a usual practice in climes, to the economy.

 NAN reports the Nigerian Stock Exchange (NSE)  received final approvals of its demutualisation plan from the Securities and Exchange Commission (SEC) and Corporate Affairs Commission (CAC) respectively.

With these approvals, the exchange has now completed its demutualisation process.

 Under the demutualisation plan, a new non-operating holding company, the Nigerian Exchange Group Plc (‘NGX Group’) has been created.

The group will have three operating subsidiaries, namely: Nigerian Exchange Limited (NGX Limited), the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulation company; and NGX Real Estate Limited (NGX RELCO), the real estate company. (NAN)